SHAZAM, Inc., an EFT network and processor founded in 1976 by community financial institutions to guarantee access to the electronic payments system, has become the primary sponsor of CBAI’s electronic newsletter, CONNECTED! TO COMMUNITY BANKING. CBAI and SHAZAM have been marketing partners since 2000, and SHAZAM now serves 1,600 community banks in 30 states. To learn how CBAI members can earn special discounts on SHAZAM ATM services, please contact Mike Duke, CBSC Vice President of Electronic Payments.
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State Chartered Banks and Thrifts received on Saturday, May 17, a "Proof of Claim and Release Form" from the Illinois Department of Financial and Professional Regulation (IDFPR). Completion and submission of the form is necessary to receive full credit under the terms of the "Settlement Agreement" which was signed late last week by the presiding judge in CBAI's lawsuit against the Blagojevich administration challenging fee hikes and fund sweeps. Part of the Agreement requires participating financial institutions to waive their individual right to sue the Administration over the fee hike and fund sweep issue.

Please note that while the Agreement has been completed and signed by the judge, final disposition is dependent upon the enactment of legislation which is pending in the Illinois General Assembly. Completion and early submission of the form sent by DFPR will expedite the payment process once the required legislation is enacted. Please understand that, while CBAI is optimistic, passage of the legislation is not guaranteed. However, CBAI encourages all state banks and thrifts to return the Claim and Release Form at your earliest convenience in order to receive speedy and full payment of credits due under the Agreement.
Please do not hesitate to contact either David Manning or Jerry Cavanaugh at 800-736-2224.
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FDIC Chairman Sheila Bair said the FDIC will be taking a closer look at institutions relying heavily on brokered deposits, according to the American Banker newspaper. The agency is adopting the extra regulatory scrutiny following the failure of ANB Financial in Bentonville, Ark., Bair told the newspaper after a speech last week. The $2 billion-asset bank funded $1.6 billion in out-of-state loans with rate-sensitive brokered deposits. Bair's speech outlined her government-assisted financing plan to help struggling homeowners refinance into more affordable mortgages.

Community Banks across America have emerged from the Wall Street meltdown largely unscathed, according to Cam Fine, ICBA President, in a recent appearance on CNBC’s Squawk Box program. Appearing with Fine was FDIC Chairman Sheila Bair who emphasized that community banks last year posted significantly higher return on assets, lower delinquencies, chargeoffs and non-current loans, than the largest banks. She also noted that community banks are well-positioned to withstand the current economic challenges.

Last week the U. S. Senate passed the 2008 Farm Bill by an 81-15 vote, following overwhelming passage in the House. The measure now goes to President Bush who has vowed to veto it. Congress would then vote to override the veto and make the $300 billion, five-year Farm Bill law before Memorial Day.

Community bankers successfully lobbied lawmakers for the past two years to prevent adoption of the Farm Credit System’s proposals to expand its lending authority. Here are the roll call votes for the Senate and House.
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Are you hearing conflicting information about our current economic outlook? Do you know what other business leaders are doing to help grow their organizations? Plante & Moran’s White Paper, which is now available, offers you the opportunity to sit down with 344 business leaders and get their candid opinions. For the full report click here.

The Manufactured Housing Institute (MHI) announced during its 2008 annual meeting in Las Vegas that Triad Financial Services, Inc., was named National Lender of the Year. Triad is an exclusive marketing partner with Community BancService Corporation (CBSC), a CBAI affiliate. Press Release.

In the May 7 edition of the American Banker, an article on Wachovia Bank entitled: “New ‘Rock’ To Look Under: New Hits from BOLI” described a write-down by Wachovia of its BOLI portfolio. VisionLink For Banks wants to alert its clients to this article and discuss its relevance to the separate account policies of VisionLink clients. To read more, click here.

Crude Oil Hits New High, Again; Home Starts less Condos Falls to a 17-Year Low; Consumer Confidence Plummets to a 28-Year Low; Continuing Claims Rises to a 4-Year High. For the most current BAKER GROUP update, click here.
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On June 9 & 10, 2008, agricultural experts including Dr. David Kohl from Virginia Tech, Dr. Paul Ellinger from the University of Illinois, Dr. Steven Johnson and Dr. Elwynn Taylor from Iowa State University, as well as Mark Scanlon from ICBA, and Cory Mitchell from the Illinois Finance Authority head an all-star line-up of speakers at CBAI’s 2008 Ag Lenders’ Conference. This cutting-edge, two-day conference, conducted at the Crowne Plaza Hotel in Springfield, also features a number of exhibits by agricultural-related firms. For details and a registration form, click here.

Scheduled for June 18 & 19 at the CBAI Headquarters in Springfield, the Advanced Compliance Institute is designed for the bank’s experienced compliance personnel who want to upgrade their skills in the detection, diagnosis, and resolution of compliance issues, as well as the ability to influence others to solve compliance problems. Bill Elliott, Bryan Bradley, and William Gaidis from Young & Associates lead this highly interactive program. For an agenda a registration information, click here.

The CBAI Education Department has a special offer just for you. For every two individuals you register for any one of four June one-day seminars, you will receive one FREE registration! Registrations may be for the same seminar, or for different seminars, or any combination. For more information, click here, visit www.cbai.com, or call the Education Department at 800/736-2224.

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